IT systems / 1 posts found

Don’t look back!

by mike tombs
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One of the many quotes bandied around by people is: “don’t look back, you’re not going that way…” Like many clichés, this one contains a grain of truth, and never more so than when understanding the difference between financial and management accountancy. Financial accountancy is a simple record-keeping exercise that shows you a summary of what has happened in the previous year. It is used mainly by accountants to work out how much tax is due to HMRC. This process, filing your tax return and statutory accounts, and making any necessary payments, are a legal responsibility. Financial accounting is viewed [...]